Rapid Reaction: January New Home Sales
January new home sales fell 7.8 percent from December and 1 percent from a year ago, to 593,000 units (SAAR) -- not what the market needed or wanted to see after an equally disappointing existing home sales report.
Home Values Grow at Slowest Annual Pace in 15 Months (January 2018 Market Report)
January saw the slowest growth since November 2016 and follows a year in which homes regularly gained more than 7 percent from the prior year – including a 7.6 percent jump in May 2017, the fastest pace since June 2006 in the midst of the housing bubble.
As Mortgage Rates Flatten, Markets Anticipate Federal Reserve Speeches
Markets also are likely to focus on leadership changes at the European Central Bank, which could move European monetary policy toward a less accommodative stance and push up interest rates globally.
January Existing Home Sales: An Ominous Start to 2018
Sales were down 4.8 percent annually, the largest year-over-year drop since November 2015. The median seasonally adjusted price of existing homes sold in January surged to a new all-time record, increasing by 1.8 percent to $255,500, up 5.7 percent over the year.
Rapid Reaction: January Existing Home Sales
January existing home sales fell 3.2 percent from December to 5.38 million (SAAR), the second weak month in a row. January sales were down 4.8 percent from a year ago, the largest annual decline since August 2014.
January Home Sales Forecast: Edging Higher Into 2018
Facing strong headwinds from low and contracting for-sale inventory, existing home sales have plateaued over the past year at around three-quarters of the highs reached at the peak of the last housing cycle.
Inflation Data Pushes Mortgage Rates Higher After Days of Stability
The average prime 30-year fixed mortgage rate quoted on Zillow increased by almost 10 basis points on Wednesday to 4.27 percent, touching their highest levels since April 2014.
Climbing Mortgages Rates Tempered by Market Volatility
An increase in mortgage rates was driven by the combination of financial market volatility, employment and wage growth data – further evidence of a strong U.S. labor market and stronger global economic growth. Those factors are expected to push the world’s major central banks to collectively tighten monetary policy for the first time in almost a decade and a half.
Economy’s Strength, Future Deficit Prospects Drive Mortgage Rates To Highest Level in a Year
For the second week in a row, the average prime 30-year fixed mortgage rate quoted on Zillow increased about 10 basis points over the past week, rising to 4.06 percent.
November Case-Shiller Results and December Forecast: Unseasonably Strong Demand
Demand from home buyers was unseasonably strong in the final months of 2017 – even in the face of full holiday schedules, low inventory, high competition and rising home prices – helping to push headline Case-Shiller indices somewhat higher than expected in November.
